Core Contribution definition

Core Contribution means the nonelective employer contributions made pursuant to Section 4.1(d).”
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Core Contribution means the amounts contributed by the Company pursuant to Section 3.5 (including those amounts contributed prior to April 1, 2013 and designated as “Stock Ownership Contributions”).
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Core Contribution means the annual employer contribution provided for under Section 4.2 of the Chittenden Plan equal to a percentage of the eligible employee’s earnings up to the Social Security Wage Base for the applicable year plus a percentage of the eligible employee’s earnings in excess of the Social Security Wage base for such year based on the eligible employee’s years of benefit service as of the end of the applicable year, all as defined and more fully described in said Section 4.2;
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Examples of Core Contribution in a sentence

  • All Employees who work at least 1,000 hours in the year (including Per Diems) are eligible for matching and who are employed at the end of the calendar year will be eligible for the Core Contribution at the end of each calendar year.

  • The Minimum Core Contribution will be pro-rated for part-time and per diem employees who meet the program requirements.

  • The Core Contribution shall be made in the sum assessed and agreed by the SLP Board and shall be payable at the beginning of each financial year on receipt of an invoice for such sum.

  • Core Contribution: Eligible full-time employees receive the greater of 3% of Retirement Program Pay or the Minimum Core Contribution.

  • Wage Increase Evening Night Week- End Core Contri-bution Signing Bonus Pro-rata for <40 hr employees Retro to 1/1/19 3.5% Ratification $250 Mar-2020 2.5% $3.00 $4.00 $3.00 3% Mar-2021 2.5% Mar-2022 2.5% Hourly rate increases will apply uniformly to all employees without regard to an individual’s current hourly rate unless the amount would cause the rate to exceed the range maximum.

  • The Employer will make a Core Contribution of 1.5% of pay, the first such contribution occurring in the first quarter of 2020.

  • In determining the benefits payable under this Section 5.3(b), the benefit offset amount under paragraph (d) of Appendix A shall be the value of the Employee’s vested Core Contribution Account under the Schlage Lock Company LLC Employee Savings Plan and vested Supplemental Core Contribution Account under the Schlage Lock Company LLC Supplemental Employee Savings Plan as of the date of the Employee’s Separation from Service.

  • In determining the benefits payable under this Section 5.3(b), the benefit offset amount under paragraph (d) of Appendix A shall be the value of (i) the Employee’s vested Core Contribution Account under the Schlage Lock Company LLC Employee Savings Plan plus (ii) the value of his vested Supplemental Core Contribution Account under the Schlage Lock Company LLC Supplemental Employee Savings Plan as of the date of the Employee’s Separation from Service.

  • Other Contributions for these amounts will be agreed separately by the ILC Management Committee and shall be over and above the Core Contribution.

  • A Member shall vest in his Employer Matching Contribution Account and his Employer Core Contribution Account after the completion of five (5) Years of Service, provided, however, that notwithstanding the foregoing, an employee will be fully vested in his Employer Matching Contribution Account and his Employer Core Contribution Account upon attaining his Normal Retirement Age.


More Definitions of Core Contribution

Core Contribution means a contribution by the Employer made to the Plan for the 2012, 2013 and 2014 Plan Years on behalf of a Participant pursuant to the applicable provisions of the Plan as in effect for such Plan Years.
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Core Contribution means a Company nonelective contribution as described in Section 4.1(b) of this Appendix D.
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Related to Core Contribution

  • Catch-Up Contribution means an Elective Deferral made to the Plan by a Catch-Up Eligible Participant that, during any taxable year of such Participant, exceeds one of the following:

  • Catch-Up Contributions means Salary Reduction Contributions made to the Plan that are in excess of an otherwise applicable Plan limit and that are made by Participants who are Age 50 or over by the end of their taxable years. An “otherwise applicable Plan limit” is a limit in the Plan that applies to Salary Reduction Contributions without regard to Catch-up Contributions, such as the limits on Annual Additions, the dollar limitation on Salary Reduction Contributions under Code Section 402(g) (not counting Catch-up Contributions) and the limit imposed by the Actual Deferral Percentage (ADP) test under Code Section 401(k)(3). Catch-up Contributions for a Participant for a taxable year may not exceed the dollar limit on Catch-up Contributions under Code Section 414(v)(2)(B)(i) for the taxable year. The dollar limit on Catch-up Contributions under Code Section 414(v)(2)(B)(i) is $1,000 for taxable years beginning in 2002, increasing by $1,000 for each year thereafter up to $5,000 for taxable years beginning in 2006 and later years. After 2006, the $5,000 limit will be adjusted by the Secretary of the Treasury for cost-of-living increases under Code Section 414(v)(2)(C). Any such adjustments will be in multiples of $500.

  • Elective Contribution means the Employer contributions to the Plan of Deferred Compensation excluding any such amounts distributed as excess "annual additions" pursuant to Section 4.10(a). In addition, any Employer Qualified Non-Elective Contribution made pursuant to Section 4.1(c) and Section 4.6(b) which is used to satisfy the "Actual Deferral Percentage" tests shall be considered an Elective Contribution for purposes of the Plan. Any contributions deemed to be Elective Contributions (whether or not used to satisfy the "Actual Deferral Percentage" tests) shall be subject to the requirements of Sections 4.2(b) and 4.2(c) and shall further be required to satisfy the nondiscrimination requirements of Regulation 1.401(k)-1(b)(5), the provisions of which are specifically incorporated herein by reference.

  • Annual Contribution means the annual payment to the Fund made by each Member in return for Coverage by the Fund for a Fund Year;

  • Nonelective Contribution means an amount contributed by a participating